Michael Saylor suggests that the potential approval of an Ethereum ETF could have positive ramifications for Bitcoin.

MicroStrategy founder Michael Saylor has altered his stance on spot Ether (ETH) exchange-traded funds (ETFs), stating that the recent approval from the US regulator is not only beneficial for Bitcoin (BTC), but may actually be better for Bitcoin. In an episode of the What Bitcoin Did podcast on May 25, Saylor explained that the approval of eight spot Ether ETFs by the US Securities and Exchange Commission (SEC) will serve as an additional form of support for Bitcoin and will accelerate institutional adoption of cryptocurrencies. He emphasized that Bitcoin will still receive the majority of allocated capital as the leading cryptocurrency, despite the allocation of capital across various crypto assets. Saylor acknowledged that his opinion on spot Ether ETFs has changed, as he previously believed there was a slim chance of SEC approval. His change in stance has sparked attention within the crypto community.